Textile
Vertical integration
The ownership of other businesses involved in the steps of producing a particular good.
Nonbasic industries
Does not generate new money for the area. (Grocery store.)
Basic industries
actions that create new wealth for a region. (Manufactured goods or commercial farm products.)
Cottage industries
Small home-based businesses that made goods.
Industrial belt
The process of the industrial revolution that stretched across the multitudes of the Northern Hemisphere.
Deindustrializatiom
a process of deceasing reliance on manufacturing jobs.
Standard of living
as the level of wealth, comfort, happiness, and material goods available to a specific socioeconomic class in a specific
Primary sector
extracting the natural resources from the Earth.
secondary sector
making products from natural resources.
Tertiary sector
providing information and services to people.
Quaternary sector
managing and processing information
Quinary sector
creating information and making high-levels decisions
Least cost theory
to explain the key decisions made by businesses about where to locate factories
Multiplier Effects
the potential of a job to produce additional jobs.
Bulk-gaining industry
factories located close to water and the market.
Bulk-reducing industry
commonly made of many of these raw materials
Break-of-bulk point
the procedure of transferring cargo from one mode of transportation to another.
Labor-oriented vs Labor-dependent
labor oriented are focused on skilled works while labor dependent is the large amount of workforce.
Right-to-work state
a U.S. state that has passed laws that prohibit companies and unions from negotiating contracts that require employees to join a labor union as a condition of employment
Formal vs informal economy
the formal sector is the portion of the economy that is monitored by government while a informal sector is the portion of the economy that is not monitored by government.
Gender Empowerment Measure (GEM)
a measure of inequalities between men's and women's opportunities in a country.
Gender Inequality index (GII)
a composite measure of several factors indicating gender disparity.
Gender-related development index (GDI)
Compares the level of development of women with that of both sexes.
Gross Domestic Product (GDP)
the dollar amount of all final goods and services produced within a country in one year.
Gross national Income (GNI)
Gross national product (GNP)
they involve the money generated by citizens and business of a country regardless of where a resident lives when money is earned.
Human development Index (HDI)
combines one social measure with three social measures.
Purchasing Power Parity (PPP)
a measure of what similar goods cost in different countries.
Literacy Rate
the percentage of the population that can read and write.
Decency theory
the idea that the economic and political relationships between countries and regions limit the economic development of poorer areas.
Glass Celling
another trend reflecting employment discrimination toward women is that women rarely obtain upper-level jobs in companies, the civil service, or in governments, practically in developing countries.
Transnational Corporations
One reason for the expanded employment opportunities for women has been the efforts of transnational corporations.
Microloans
a programs enacted by governments and international non-profit agencies.
Rostow’s stages: Traditional
depends on primary sector activities for subsistence.
Rostow’s stages: Preconditions for take-off
improves infrastructure
farming techniques and shifts toward commercial agriculture.
Rostow’s stages: Take off
Rostow’s stages: Drive to maturity
Rostow’s stages: High Mass consumption
Dependency theory
Commodity dependence